Economic Valuation and Community-Based Management: The Whale Shark Wildlife Tourism in La Paz Bay, Mexico

The whale shark aggregation area in La Paz has given rise to vital wildlife tourism activity since the mid-1990s, which has been consolidated during the first decade of the 21st century. La Paz Bay is one of the three sites in Mexico where whale shark wildlife tourism is practiced. Biological and ecological research of whale sharks in the La Paz Bay is extensive. However, there is a considerable lack of knowledge about the socioeconomic implications of this activity. Understanding the recreational values of whale shark area users is fundamental to formulating an effective management policy. Using the individual travel cost method, we estimate the recreational value of whale sharks in La Paz Bay—the estimated individual’s willingness-to-pay ranges from 8 to 27 USD per trip. The recreational value of whale shark wildlife tourism ranges from 304,600 to 1,028,025 USD/season. The recreational value per whale shark ranges from 2361 to 14,083 USD. These results serve as a baseline for implementing economic and environmental policies and/or instruments to collect financial resources, strengthening actions oriented towards site and species conservation. Community-based management options, limitations, and opportunities are also discussed.